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Week Ending April 9th, 2022

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Brown's Rants

Job Market Nears Pre-Pandemic Unemployment Levels

The past week has been a crazy week for retail-related news. Restaurant expansion plans have surged (as you will see by four entire pages of articles referenced this week—and that wasn’t all of them). Meanwhile, we are starting to see consolidations and merger and acquisition activity tick up. This isn’t just for retail (Dave & Buster’s is purchasing competing experiential barcade The Main Event for $835 million, but also for landlords (Donahue Schriber and their portfolio of 47 shopping centers were purchased by First Washington Realty). Meanwhile, Westfield parent Unibail-Rodamco has stated that they intend to sell off their entire American mall portfolio by the end of next year. And we saw another fevered wave of articles about the metaverse and Chipotle joined Wendy’s in creating their gamified presence online. I’m sticking to my guns on that topic; retailers need to pay attention to what is happening there—this is going to evolve into something. Just exactly what… is not clear yet.

By the way, the metaverse, the mall space, reinvigorating small-town retail and deep dives on the current wave of restaurant growth are all future topics for our newly launched podcast! I am super excited and very proud to announce that, in conjunction with our friends over at ConnexFM (North America’s largest retail facilities management trade organization), we have launched The Retail Grind podcast—now available on all of the major podcast stores.

In each episode, my cohost Bill Yanek (ConnexFM CEO) and I tackle the latest economic, consumer and retail news impacting our sector. If you want to know the latest news on retail and restaurant expansion plans, consumer trends, economic forecasts… you name it… anything that impacts the retail and shopping center worlds we will be covering it in an entertaining and informative show for those of you on the go!

By the way, we are also bringing in some fantastic guests.

Our latest episode features advertising and brand expert Neal Foard, with whom we discuss the importance of storytelling in branding, as well as his takes on social media, division and just who exactly the best bartender in Chicago is.

Also check out our compelling conversation with one of the smartest economists I have ever known, the brilliant Dr. Larry Souza. I have known Dr. Larry for about 20 years and his predictions are always uncanny in their accuracy. In this episode, we discuss inflation, interest rate hikes and the significance of an inverted yield curve as a predictor of future recessions.

I hope you enjoy and subscribe!

See you next week.

Garrick

Retail Bankruptcies to Remain Low in First Half of 2022 As Long As…
Chain Store Age 4/8

Expensive Gas Slows Foot Traffic
Retail Wire 4/8

The 12 Industries Amazon Could Disrupt Next
CB Insights 4/8

Online Grocery Sales Down 6.0% in March
Chain Store Age 4/8

National Restaurant Association Applauds Passage of $42M Restaurant Relief Package
FastCasual.com 4/7

Dave & Buster’s Buying Main Event for $835M
Costar 4/6

Westfield Parent Aims to Sell All US Mall Properties by Late 2023
Retail Touchpoints 4/6

Was the Second-Gen Real Estate Boom a Myth or Reality for Restaurants?
QSR Magazine 4/5

First Washington Acquires Donahue Schriber
Shopping Center Business 4/5

Do Yourself a Favor: Go Find a Third Place
The Atlantic 4/4

Economic Headlines stories of the week

Blue Collar Workers Make the Leap to Tech Jobs, No Degree Necessary
Wall Street Journal 4/8

Food Prices Surge to Record Setting Level Worldwide
Pizza Marketplace 4/8

Macy’s Warns That Inflation Squeezed Consumers May Choose to Spend on Travel Over Shopping
CNBC 4/8

Mastercard SpendingPulse: March Sales Increase 8.4%; in-store Sales Rebound
Chain Store Age 4/7

A Housing Bubble is on Everyone’s Mind Right Now
Business Insider 4/7

Grocery Delivery Saw Big Gains in March
Winsight Grocery News 4/7

US eGrocery Sales Hold Steady for March
Supermarket News 4/7

US Consumer Debt Jumped by $40B in February
WDJT 4/7

Ports See Brief Slowdown But Might Not Last
Chain Store Age 4/7

Walmart Addresses Truck Driver Shortage
Chain Store Age 4/7

Jobless Claims Fall to Lowest Level Since 1968
Post-Gazette 4/7

Legendary Investor Grantham Rings the Recession Alarm
Business Insider 4/7

Shoppers Spending More on Grocery, Making Fewer Trips
Winsight Grocery News 4/6

Wage Growth Tracker: 6.0% Growth (year-over-year) for March
Federal Reserve Bank of Atlanta 4/6

Teens are Worried About US Economy but Still Spending on Nike and Lululemon
CNBC 4/6

Sheer Joy in Store as US Retailers Stock up for Bumper Wedding Season
Reuters 4/6

Income Based Inflation Gaps: Caviar Vs. Canned Tuna
New York Times 4/5

Malls See Big Rebound in Foot Traffic in March
Chain Store Age 4/5

Global Insurers Plan to Ramp up Private Equity Investments
Reuters 4/4

Caring for Aging Parents, Sick Spouses Keeping Millions Out of Work
Washington Post 4/4

President Proposes Tax Hikes on Marketplaces Industry
ICSC 4/4

Reserve Roastery in Chelsea is Latest Starbucks to Unionize
Spectrum News 4/4

 

Property Trends stories of the week

Three Reinvented Malls, Plus Four Projects Combining Retail with Entertainment and Creative Office
ICSC 4/8

Retailers Look to Expand Warehouse Capacity; Some are Converting Stores
Forbes 4/8

Retail Rents Have Grown for Ten Straight Years in San Antonio
Costar 4/8

How Covid Forever Changed Fast Food Restaurant Design
QSR Magazine 4/8

Online Brands Open Stores in the Suburbs to be Closer to Consumers
CNBC 4/7

Experiences and Rewards Key to In-Store Success
TotalRetail 4/7

Wisconsin Independent Record Store Chain The Exclusive Company to Close All Six Locations After Death of Founder/Owner
TMJ4 4/7

Flight From Quality: A Mall Survival Strategy
Xteam 4/7

Dying Bay Area Mall is Bought; Life Science Conversion Beckons
San Jose Mercury 4/6

Retailers Question Utility of Data for Site Selection
BisNow 4/6

American Dream Megamall in New Jersey 80% Leased w/More Deals on the Way
Costar 4/6

The Michigan Avenue Crisis is Getting Worse
Chicago Tribune 4/6

Michigan Mall Morphs Into Business Center with Retail
Chain Store Age 4/6

Retail Landlords and Tenants Want Creative Lease Deals; Lenders Not so Sure
Bisnow 4/6

Construction Begins on 600,000 SF Ponce City Market Expansion
Atlanta Business Chronicle 4/6

Surging Retail Demand Pushes Vacancies to Four Year Low in Houston
Costar 4/6

Retailers Eye Smaller Stores and Human Connections
Forbes 4/4

Laguna Hills Mall Gets Ready for Mixed-Use Makeover
Spectrum News 4/4

Forming and Curating Markets: Lessons From Wandering Wyld Co-founder Rachel Macintyre
ICSC 4/2

Retail Headlines stories of the week

The Luxury Business Comes Back to Life
Washington Post 4/8

Luxury Fashion Can No Longer Ignore the Power of the Off-Price Segment
Luxury Daily 4/8

Experiential Retailer Camp Goes Disney
Chain Store Age 4/8

Home Depot Store Floated in Oakland CA
Hoodline Oakland 4/8

DSW Parent to Focus on Owned Brands to Drive Growth
Chain Store Age 4/8

Rally House Grows to Five Locations in Chicago
Cision PR Newswire 4/8

Costco Reverses Decision to Close Cincinnati Area Store
Cincinnati Business Courier 4/8

Five Below Opens in Fort Wayne IN
Wane.com 4/8

Costco Heading to Sacramento Suburb Natomas
Sacramento Business Journal 4/8

Blue Nile Heading to Westfield’s Roseville Galleria
Sacramento Business Journal 4/8

Scotch & Soda Accelerates Store Growth
Chain Store Age 4/8

Scotch & Soda Coming to San Antonio
San Antonio Current 4/8

Rocky’s Ace Hardware Chain Buys Nine Ohio Ace Stores
Boston Business Journal 4/8

Guess Takes New Approach to Store Remodels
Chain Store Age 4/7

Macy’s Could Return to Markets Where it Shut Stores in Revving Up Real Estate Efforts
Costar 4/7

Live Nation Inks Deal at American Dream for Concert Venue
Forbes 4/7

Galaxi Fun Zone Takes 50K SF Former Love’s Furniture in Battle Creek MI
Costar 4/7

Nike Confirms Atlanta Expansion to Open Technology Center
Atlanta Business Chronicle 4/7

Scotch & Soda Opening 20 New Stores Globally Over Next Six Months
Yahoo! Finance 4/7

Beyond Fatigue Fitness Adding Unit in Orlando
Orlando Business Journal 4/7

Chair King Backyard Expands in Houston
Houston Chronicle 4/7

Christian Louboutin Opens First Arizona Store
Phoenix Business Journal 4/7

Rite Aid Stock Crashes 20% After Analyst Suggests They May Go Out of Business
Yahoo! Finance 4/7

Former Gander Mountain Store to Become Self Storage
Buffalo Business First 4/7

Sun Auto Tire Continues PHX Expansion
Modern Tire Dealer 4/7

Bin Store Takes 10,000 SF in Ontario CA
Costar 4/6

Peloton Opening San Antonio Store
MYSA 4/6

BJ’s Wholesale Opening in Pittsburgh Burbs
Pittsburgh Business Times 4/6

What Could Replace Nordstrom if They Pull Out of Country Club Plaza
Kansas City Business Journal 4/6

Old Navy Closing Dulles Town Center (VA) Store
The Burn 4/6

Athleta Joining Pavilions Center in Sac
Sacramento Business Journal 4/6

Parachute Home to Open Second Chicago Area Store
Chicago Business Journal 4/6

It’Sugar Goes Big in Chicago
Chain Store Age 4/6

Frank & Oak, UpWest Land in Brooklyn’s Williamsburg
Costar 4/6

Circle K to Add 9 New Stores in Franchise Deal
CSP Daily 4/6

New Costco in Amherst NY Could Disrupt Multiple Buffalo Area Markets
Buffalo Business First 4/5

Target’s New Times Square Store Shows No Space is Off Limits
Winsight Grocery Business 4/5

First Look: Check Out Target’s New Times Square Store
Chain Store Age 4/5

Glossier is Back in Miami and Here to Stay
Miami New Times 4/5

Walmart Health Expands into New Market
Chain Store Age 4/5

Online Luxury Retailer Farfetch Invests in Neiman Marcus
Reuters 4/4

Is Petco Positioned for Long Term Growth?
Retail Dive 4/4

Rite Aid Closing Additional Sacramento Region Stores
Sacramento Business Journal 4/4

Madrag Targets Budget-Minded, Fast Fashion Young Women
Chain Store Age 4/4

Grocery Headlines stories of the week

The Fresh Market’s Newest Florida Store Aims to Answer What’s for Dinner
Winsight Grocery Business 4/8

Fresh Market Opens 160th Store in Palm Beach Gardens
Supermarket News 4/8

Amazon Fresh Deepens Focus on Just Walk Out Technology
Grocery Dive 4/8

Publix Expanding Again in Charlotte NC
Charlotte Observer 4/8

Supermarkets and Service Tenants Are Each Driving the Market in Their Own Way
ICSC 4/8

Amazon Fresh Brings its Second Store with Just Walk Out Tech to Virginia, Three More on Way
Winsight Grocery Business 4/7

Amazon Eyes DC’s Dupont Circle for Grocery Store
Washington Business Journal 4/7

Liquorland Expands Across DFW Market
WFMZ 4/7

Kroger’s Dallas Division Enters Restaurant Supply Arena
Supermarket News 4/6

New Austin TX H-E-B Breaks Ground
MYSA 4/6

New CEO Sees Great Opportunity at Save Mart
Supermarket News 4/5

Aldi Opening Second South Philly Location
Philly Voice 4/5

Restaurant News stories of the week

Colorado Springs Has a new Food Hall
The Gazette 4/8

The Great Greek Opening First Jacksonville Unit
FastCasual.com 4/8

Sbarro Heading Outside of Malls
QSR Magazine 4/8

Shaq is Bringing Big Chicken to San Antonio
KTSA 4/8

Dutch Bros Adds Another San Antonio Unit
MYSA 4/8

Duck Donuts Keeps Momentum Going into 2022
QSR Magazine 4/8

WaBa Grill Signs 13 Unit Deal
FastCasual.com 4/8

Fazoli’s Sets Stage to Break More Records
QSR Magazine 4/8

Chick’nCone Opens First Oklahoma Location
Restaurant News 4/7

Pizza Guys Opens in Redding CA
Pizza Marketplace 4/7

Freddy’s Frozen Custard Looks to Double Store Count
Chain Store Age 4/7

Insomnia Cookies Expanding With 6 New Openings
FastCasual.com 4/7

I Heart Mac & Cheese Opens in Saginaw MI
QSR Magazine 4/7

British Vegan QSR Chain Neat Burger Plans to Enter US Market
Catering Insights 4/7

Mici Italian Inks 30 Unit Deal
Pizza Marketplace 4/7

Food Hall with 36 Holes of Mini-Golf Planned for Cincinnati’s Oakley Neighborhood
Local 12 4/7

Captain D’s Rolls Out New Smaller Prototype
QSR Magazine 4/7

Chicken Salad Chick Opens 20th Tennessee Store
FastCasual.com 4/7

Wow Wow Hawaiian Lemonade Expands to California’s Solano County
Restaurant News 4/7

Teriyaki Madness Expands in Indiana
Restaurant News 4/7

Dessert Concept Chocolate Bash Expands in Sacramento
Sacramento Business Journal 4/7

Fast Casual Hookah Lounge Coming to Vegas
FastCasual.com 4/7

Mountain Mike’s Opens Second AZ Store
Restaurant News 4/7

Tropical Smoothie Café Starts Year Strong With New Store Openings
Chain Store Age 4/6

Ike’s Love & Sandwiches Opens in Marina Del Rey CA
QSR Magazine 4/6

Cheba Hut Opens in Houston
Restaurant News 4/6

Detroit Wing Company Expands in Ann Arbor MI
QSR Magazine 4/6

Former NBA Star Bringing 10 Dave’s Hot Chicken Units to Minneapolis
FastCasual.com 4/6

Salata to Open in Mesquite TX
QSR Magazine 4/6

As Lines Blur, the Term Fast Casual Has Become Obsolete
Restaurant Business 4/6

Chick N Max Signs 25 Unit Deal for Home State of Kansas
QSR Magazine 4/6

Federal Donuts Lands Funding
FastCasual.com 4/6

Tips for Landing and Keeping Great Restaurants
ICSC 4/6

Capitol Tacos Expanding Via Ghost Kitchens
FastCasual.com 4/6

Qdoba Inks Cleveland Deal
FastCasual.com 4/6

Wing Snob Emerges as Worthy Competitor; Wants to Open 100 Units by 2025
QSR Magazine 4/5

Capitol Tacos Announces Five Market Expansion Plan
Restaurant News 4/5

Habit Grill Opens in Orange County CA
FastCasual.com 4/5

Tapville to Open 27 Locations in 2022
Tapville 4/5

Taco John’s Opens in Billings MT
Restaurant News 4/5

Slim Chickens Adding to Houston Footprint
FastCasual.com 4/5

Shaq’s Big Chicken Signs 50 Unit Texas Deal
QSR Magazine 4/5

Cici’s Pizza Opens in Lakewood CO
Pizza Marketplace 4/5

Burger Patch Opening Fourth Sacramento Store
QSR Magazine 4/5

Taziki’s Opens in Indiana
Restaurant News 4/5

Teaspoon (Boba Tea Café) Inks Multiple Franchise Deals
Restaurant News 4/5

Donatos to Expand Florida Footprint
Pizza Marketplace 4/5

Micro Food Hall Local Kitchens Opening in Davis CA
Restaurant News 4/5

Pokeworks Adds 15th Texas Location
FastCasual.com 4/5

Nektar Juice Bar Signs 18 Franchise Deals in Q1
Restaurant News 4/5

Twin Peaks Rolling Out in Motor City
Restaurant News 4/4

South Korean Chain BB.q Chicken Opening Two Colorado Units
FastCasual.com 4/4

Mo’Bettahs Releases Prototype Reflecting Hawaiian Culture
QSR Magazine 4/4

Meet Koibito Poke in St. Louis
FastCasual.com 4/4

Fast Casual Concept Bibi Opens in Atlanta’s Central Food Hall
QSR Magazine 4/4

Jeremiah’s Italian Ice Announces Rapid Houston Expansion
Restaurant News 4/4

Bobby Flay’s Bobby’s Burgers Looks to Disrupt Franchising Segment
QSR 4/4

Smashburger Opens First Location with Booze
Fox Business 4/4

MOD Pizza Expands in Houston
Community Impact 4/4

REITs, Landlord & Development stories of the week

Retail CMBS Delinquencies Stabilize But Remain Elevated
Costar 4/8

First Washington Adds $3B Worth of West Coast Retail Properties to Portfolio
ICSC 4/8

Grocery Anchored Centers Score Another Big Sale in San Diego
Costar 4/8

RPT Realty Pays $104M for Portsmouth’s (NH) The Crossings
Costar 4/8

Brookfield Hands Chicago’s Water Tower Place Back to Lenders
Chain Store Age 4/8

Car Washes are Shining Up Balance Sheets With Sale-Leasebacks
Globe Street 4/8

Tapping Entrepreneurial Talent Brookfield Boosts Black-Owned Brands
ICSC 4/8

First National Buys First Texas Shopping Center
Chain Store Age 4/7

Smooth Sailing for Net Lease Cap Rates Until 2024. Then Watch Out
Globe Street 4/6

Hobby Lobby Anchored Center in Pembroke Pines FL Sells for $36.3M
South Florida Business Journal 4/6

Good Times for Grocery Anchored Retail as Another Center is Snapped Up
Bisnow 4/6

Investors Snap Up More Chicago Grocery Anchored Centers
The Real Deal 4/5

First Washington-Donahue Schriber Deal Sign of More Consolidation to Come
Costar 4/5

Single Tenant Net Lease Cap Rates Drop to Record Lows
Globe Street 4/4

Brookfield Lines up Major Refinancing for Honolulu’s Ala Moana Center
Costar 4/4

ecommerce, omnichannel, retail tech stories of the week

The Six Biggest Retail Technology Stories of the Week
Retail Tech Innovation Hub 4/8

Why Restaurants are Venturing into the Metaverse
Food Institute 4/8

Brick and Mortar’s Future Lies in Extending the Online Shopping Experience
Chain Store Age 4/8

Virtual Malls Become Real Trend
Chain Store Age 4/8

Instacart Won the Pandemic but Rivals are Catching Up
Wall Street Journal 4/6

Retail Takeaways from SXSW
Robin Report 4/6

Giant Food Digitally Engages in-Store Shoppers
Chain Store Age 4/6

The MetaMall: The Next Big Retail Development will be in Cyberspace
The Robin Report 4/5

Chipotle Rolling Burritos in the Metaverse
FastCasual.com 4/5

The Metaverse is Coming: What Retailers Should Make of it For Now
ICSC 4/4

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